Qiagen ( (QGEN) ) has released its Q3 earnings. Here is a breakdown of the information Qiagen presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Qiagen N.V., a Netherlands-based company, is a leading global provider of Sample to Insight solutions, focusing on molecular diagnostics and life sciences. In its latest earnings report, Qiagen announced solid growth for Q3 2024, surpassing sales and earnings expectations. The company reported net sales of $502 million, a 6% increase at constant exchange rates, and adjusted EPS of $0.57, exceeding expectations. Diagnostic solutions led the growth among product groups, with a notable 10% increase in sales. The company’s adjusted operating income margin improved to 29.6%, and free cash flow rose by 73% compared to the previous year. Qiagen has raised its full-year 2024 EPS outlook to at least $2.19, maintaining a robust core business performance. The company is well-positioned for future growth, with plans to increase its adjusted operating income margin to over 31% by 2028, leveraging operational efficiencies and strategic partnerships.
